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Tuesday, May 28, 2024
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Alcohol companies’ sales soar in year-end season

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Alcohol companies saw sales of beverages spike more than last year in the year-end festival and holiday season. Industry players said consumers moved to the premium segment. While rum and tequila were preferred choices, beer sales remained generally muted.

Year-end usually marks the highest sales numbers in the wines and spirits industry. During this period, people tend to buy and consume more alcohol to celebrate the coming of the new year, opined Monika Alcobev, an alcobeverages importer and distributor. It’s MD Kunal Patel told businessline, “We expected around $2 million in sales of global craft brands for the year-end period. We were able to exceed our expectations by 50 per cent.”

Beer sales muted

Similarly, makers of Godfather beer DeVANS Modern Breweries saw volumes spike this year. Its Chairman and MD Prem Dewan said, “Beer sales are generally muted during the year-end due to extreme cold, especially in the North, our main area of operation. But volumes have been good and over 20 per cent as compared to last year.”

However, beer sales during the year were well beyond expectation due to very dry and hot weather during the summer and the momentum has carried forward during the monsoon and winter months, he added.

Consumers were even seen moving towards premium brands. Monika Alcobev saw a big spike in the super-premium spirits segment – almost 10 times more than the regular months, according to Patel. “Consumers are moving towards premium brands as they want to experience craft and unique brands from across the world,” he said.

While DeVANS Godfather beer was the high performing product, Monika Alcobev’s highest-selling products were Hayman’s Gin, 1800 Tequila, Jose Cuervo, Bushmills, Lucifer’s Gold, among others.

Rum and Tequila were the preferred drinks during the celebratory season. Patel said: “We are noticing a surge in premium Tequilas and Rums, which are acing the game in providing the very essence of the Christmas and the New Year spirit.” The challenge, however, is the shortage of Tequila across the world. There is a huge demand, which will continue in 2023 but the world is facing a shortage, he added.

The above news was originally posted on news.google.com

Aabkari Times Editorial Teamhttps://aabkaritimes.com
Aabkari Times is a monthly news magazine on Liquor, Excise and Alcohol allied industry; being published since 2009 by the expertise of retired excise dept. associates and alco-bev industry professionals as our editorial team. Our magazine contains different new alco-bev strategic and new brand launch articles as well as news on recent govt. policies, trends on alcohol industry and other important data relevant to the distilleries and industry at the mass.

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